Leelyn Smith LLC Takes Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Leelyn Smith LLC bought a new position in shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the third quarter, HoldingsChannel reports. The firm bought 26,206 shares of the semiconductor company’s stock, valued at approximately $4,551,000.

Several other hedge funds have also modified their holdings of the business. PineStone Asset Management Inc. lifted its holdings in Taiwan Semiconductor Manufacturing by 116.3% in the second quarter. PineStone Asset Management Inc. now owns 7,784,316 shares of the semiconductor company’s stock valued at $1,352,992,000 after acquiring an additional 4,186,133 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 669.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,721,489 shares of the semiconductor company’s stock valued at $646,832,000 after purchasing an additional 3,237,998 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Taiwan Semiconductor Manufacturing by 1,226.7% in the second quarter. 1832 Asset Management L.P. now owns 1,983,830 shares of the semiconductor company’s stock valued at $344,809,000 after purchasing an additional 1,834,298 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the second quarter worth about $228,200,000. Finally, LGT Group Foundation grew its position in Taiwan Semiconductor Manufacturing by 725.0% during the second quarter. LGT Group Foundation now owns 1,412,856 shares of the semiconductor company’s stock worth $245,569,000 after buying an additional 1,241,596 shares during the period. 16.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSM. Barclays lifted their price target on shares of Taiwan Semiconductor Manufacturing from $215.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Susquehanna reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a report on Friday, October 18th. StockNews.com lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Taiwan Semiconductor Manufacturing Stock Performance

Taiwan Semiconductor Manufacturing stock opened at $190.02 on Friday. Taiwan Semiconductor Manufacturing Company Limited has a fifty-two week low of $95.25 and a fifty-two week high of $212.60. The company has a market capitalization of $985.52 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 0.88 and a beta of 1.12. The stock has a fifty day moving average of $187.92 and a two-hundred day moving average of $173.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 2.57.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its earnings results on Thursday, October 17th. The semiconductor company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.20. Taiwan Semiconductor Manufacturing had a net margin of 39.10% and a return on equity of 27.44%. The firm had revenue of $23.50 billion during the quarter, compared to the consensus estimate of $22.72 billion. On average, analysts anticipate that Taiwan Semiconductor Manufacturing Company Limited will post 6.95 EPS for the current fiscal year.

Taiwan Semiconductor Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Tuesday, March 18th will be paid a $0.5484 dividend. This is a boost from Taiwan Semiconductor Manufacturing’s previous quarterly dividend of $0.49. This represents a $2.19 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, March 18th. Taiwan Semiconductor Manufacturing’s payout ratio is presently 31.57%.

Taiwan Semiconductor Manufacturing Profile

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.